Pass Journal entries in the books of Puneet, Delhi for the following:

(i) Received an order from Karan & Co. for supply of goods of ₹ 50,000.

(ii) Received an order from AK & Co. for goods of ₹ 1,00,000 along with a cheque for ₹ 25,000 as advance.

(iii) Paid to staff ₹ 40,000 against outstanding salary of ₹ 60,000.

(iv) Sold goods to Bharat, Kaithal (Haryana) of ₹ 10,000 out of which 1/5th were returned being defective.

(v) Cheque of ₹ 20,000 issued by Feroz was dishonoured.

(vi) Received 40 paise in a rupee from Feroz against the above dues.

(vii) Received a cheque of ₹ 25,000 from Mohan after banking hours.

(viii) Purchased goods from Barun of Chandigarh of ₹ 10,000 and sold them to Arun of Shimla (HP) at ₹ 20,650.

(ix) Arun returned goods of ₹ 5,900, which were returned to Barun.

(x) Puneet purchased 10 TV sets @ ₹ 20,000 per set. It sold all the sets @ ₹ 25,000 per set.

(xi) Paid insurance of ₹ 12,000 for a period of one year.

(xii) Sold personal car for ₹ 1,00,000 and invested the amount in the firm.

(xiii) Goods costing ₹ 1,00,000 were destroyed in fire. Insurance company admitted the claim for ₹ 75,000.

(xiv) Purchased machinery for ₹ 50,000 and paid cartage and installation charges thereon ₹ 5,000 and ₹ 10,000 respectively.

(xv) Goods costing ₹ 40,000 sold to Amit at a profit of 20% on sales less 10% Trade Discount and received a cheque under 2% cash discount.

(xvi) Purchased machinery from New Machinery House for ₹ 50,000 and paid it by means of a bank draft. paid bank charges ₹ 50.

Anurag Pathak Changed status to publish September 19, 2023
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